The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly has signed deals with AB Bank Rwanda (ABR), a microfinance bank (MFB) affiliated with Access Microfinance Holding of Germany; IHS Holding Limited, a mobile services infrastructure company based in Nigeria that operates in five African countries; and Urwego Opportunity Bank (UOB), a foreign-owned Rwandan MFB, in an effort to increase access to telecommunications and financial opportunities in Rwanda.
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MICROCAPITAL BRIEF: Nettcash of Zimbabwe Launches Mobile Money Service
Nettcash Zimbabwe, which is owned by Nigeria’s Coporeti Services, reportedly has started offering a service in Zimbabwe that allows customers to send and receive funds to and from users of any participating mobile network provider in Zimbabwe through short message service (SMS, also known as text messaging), a web platform and interactive voice response via telephone.
MICROCAPITAL BRIEF: WorldRemit to Allow Payouts to MTN’s MobileMoney E-wallets in Uganda
WorldRemit, a UK-based online money transfer service, recently announced that it has expanded its services in Uganda to enable remittances to be delivered through mobile phones via Mobile Telecommunication Network’s (MTN’s) MobileMoney service.
MICROFINANCE PUBLICATION ROUND-UP: Mobile Money Agents in Uganda; Sustainable Microfinance; Mobile Money for the Global Unbanked
“Agent Network Accelerator Survey: Uganda Country Report 2013;” published by Helix Institute of Digital Finance; January 2014; 26 pages; available at http://www.helix-institute.com/data-and-insights/agent-network-accelerator-survey-%E2%80%93-uganda-country-report-2013-0
This document presents the results of a study conducted by the US-based nonprofit Bill and Melinda Gates Foundation and India-based for-profit consultancy MicroSave that seeks to identify the challenges, trends and successes of the mobile money market in Uganda by surveying 2,000 agents.
MICROCAPITAL BRIEF: Etisalat Lanka of Sri Lanka, Dialog Axiata of UAE Partner to Extend Ezcash Mobile Payment System in Sri Lanka
Dialog Axiata (DA), a Sri Lankan mobile communications subsidiary of Malaysia’s Axiata Group Berhad, reportedly has announced that it will begin a partnership with Etisalat Lanka (EL), a cellular network owned by the Emirates Telecommunications Corporation of the United Arab Emirates, to extend Dialog’s “eZcash” mobile payments to EL’s customers in Sri Lanka.
MICROCAPITAL BRIEF: MoneyGram, Vodafone Partner to Enable Global Mobile Money Transfers Via M-Pesa
Vodafone Group, a British multinational telecommunications company, has partnered with MoneyGram, a US-based money transfer company with outlets in 200 countries, to allow MoneyGram’s customers to transfer funds to account holders of M-Pesa, a mobile money service developed by Vodafone that operates in six countries in Asia and Africa.
MICROCAPITAL BRIEF: Nigerian Diamond Bank Partners with African Guarantee Fund to Lend $25m to Micro-, Small, Medium-Sized Enterprises (MSMEs)
African Guarantee Fund (AGF), a Kenya-based organization that aims to increase financial inclusion by underwriting commercial bank lending to small and medium-sized enterprises (SMEs) in Africa, reportedly has agreed to guarantee 50 percent of USD 25 million by Diamond Bank Public Limited Company (PLC), a Nigerian commercial bank, via its affiliate institutions in Benin, Côte d’Ivoire, Nigeria, Senegal and Togo to micro-, small and medium-sized enterprises (MSMEs).
MICROFINANCE PUBLICATION ROUND-UP: Effectiveness of Microfinance in Cambodia; Scaling Up in Agriculture and Development; Mobile Savings in Ecuador
“AMK Cambodia – Have AMK loans helped its clients improve their overall wellbeing?”, published by Angkor Mikroheranhvatho Kampuchea (AMK); January 2014; 12 pages; available at https://www.incofin.com/sites/default/files/attachments/newsitems/Change%20Study_AMK_2014.pdf
This report explores the results of a five-year study of the effectiveness of Angkor Mikroheranhvatho Kampuchea (AMK), a Cambodian microfinance institution, in helping increase its clients’ livelihoods through microcredit services.
MICROCAPITAL BRIEF: Dutch Development Bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) Loans $6.8m to Nigeria’s Fortis Microfinance Bank For On-lending to Women
Dutch development bank Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO) reportedly has approved a five-year loan of EUR 5 million (USD 6.8 million) to Fortis Microfinance Bank, a Nigerian private-sector bank.
MICROCAPITAL BRIEF: Kenya Commercial Bank, Safaricom’s M-Pesa Launch Mobile App KCB M-Benki to Increase Financial Inclusion
Kenya Commercial Bank (KCB), a publicly traded financial services company in Kenya, has partnered with Safaricom, a Kenyan mobile service provider that operates the mobile money service M-Pesa, to launch a mobile banking application called KCB M-Benki in Kenya and five other East African countries serviced by KCB [1].
MICROCAPITAL BRIEF: Orange, Visa Partner to Enhance Orange Money Mobile Payment System in Botswana
Orange, a France-based telecommunications corporation, recently partnered with Visa Incorporated, a US-based payments technology company, to launch an enhanced system of mobile payment services for subscribers of Orange Money, Orange’s mobile money service, in Botswana.
MICROCAPITAL BRIEF: eServGlobal, Zain Group Bring Collaborative Mobile Money Service to Africa and the Middle East
eServGlobal, a France-based provider of mobile financial services to emerging markets, recently announced that it has entered a three-year framework agreement with Zain Group, a mobile telecommunications provider that operates in eight markets across Africa and the Middle East, in order to provide eServGlobal’s mobile money solution services to Zain Group’s customers.
MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), Bill and Melinda Gates Foundation Create “Geospatial Mapping of Financial Institutions” Program in Effort to Boost Inclusion
The Central Bank of Nigeria (CBN), Nigeria’s central bank and main financial regulator, reportedly has partnered with the Bill and Melinda Gates Foundation (BMGF), a US-based nonprofit organization, to form a new initiative called “Geospatial Mapping of Financial Institutions” that aims to increase the financial inclusion of low-income Nigerians [1].
MICROCAPITAL BRIEF: MasterCard, Nigeria National Identity Management Commission (NIMC) to Produce 13 Million “National Identity Smart Cards”
MasterCard, a US-based payment solutions company, recently announced a new partnership with the Nigerian National Identity Management Commission (NIMC), an initiative of the Nigerian government to enroll all citizens and permanent residents into a national identity database, to produce 13 million “National Identity Smart Cards” that can be used as both identification cards as well as an electronic payment solution.
MICROFINANCE PUBLICATION ROUND-UP: Alleviating Poverty via Mobile Communications; Integrating Microfinance, Health Services in the Andes; Mobile Phone Technology for Women in Afghanistan
“Alleviating Poverty: Mobile Communications, Microfinance and Small Business Development Around the World;” by Darrell M. West; published by The Brookings Institution; May 2013; 12 pages; available at: http://www.brookings.edu/~/media/research/files/papers/2013/05/16%20poverty%20mobile%20microfinance%20business%20west/westalleviating%20povertymobile%20comms%20microfinance%20small%20business51613v12.pdf
MICROCAPITAL BRIEF: Etisalat, National Bank of Egypt, MasterCard to Launch Mobile Money Service in Egypt
The Egyptian subsidiary of the Emirates Telecommunications Corporation (Etisalat), a United Arab Emirates-based telecommunications services provider, recently formed two partnerships with the National Bank of Egypt (NBE), a commercial bank wholly owned by the Egyptian government, and MasterCard, a US-based payment solutions company, to launch a mobile commerce service known as “Flous,” meaning “money” in Arabic.
MICROCAPITAL BRIEF: ICICI Bank, Vodafone Bring M-Pesa Mobile Money Service to India
Vodafone Group Private Limited Corporation, a British multinational mobile network operator, and the ICICI Bank, a commercial bank in India, have announced that they have expanded Vodafone’s mobile pesa (M-Pesa) cash transfer service to India.
MICROCAPITAL BRIEF: Vodacom Mozambique Launches M-Pesa Mobile Money Service
Vodacom, a South Africa-based mobile communications company owned by UK-based Vodafone, reportedly has announced the expansion its mobile pesa (M-Pesa) cash transfer service to Mozambique.